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Samsung Makes $8.3 Billion in Profit in Q3, Beating Its Own Record

Steven Blum2013-01-08T13:09:37ZJan 8, 2013

Steven Blum
Steven Blum has written more than 2,000 blog posts as a founding member of AndroidPIT's English editorial team. A graduate of the University of Washington, Steven Blum also studied Journalism at George Washington University in Washington D.C. for two years. Since then, his writing has appeared in The Stranger, The Seattle P-I, Blackbook Magazine and Venture Villlage. He loves the HTC One and hopes the company behind it still exists in a few years.

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Samsung further solidified its position as king of the smartphone scene this quarter having made an incredible $8.3 billion in profit, beating its own record for the 5th quarter in a row.

To see it another way, Samsung sold close to 500 handsets every minute (!) Analysts are expecting the growth to continue despite the post-holiday slump, spurred along by phones like the Galaxy Note 2, which has shipped close to 8 million units since it was first announced.

Meanwhile, Samsung's diversified product line-up is expected to sell 290 million smartphones this year, up from 215 million in 2012. Apple is expected to sell about 100 million less; or 180 million units, up a third percent from last year.

Samsung's operating profit increased 89-percent from last year, a jump of 8.6-percent from last year's third quarter. Overall sales in Q4 reached a record $53 billion.

Needless to say, Samsung stock prices have shot through the roof. Shares in Samsung are valued at close to $230 billion, a 44% rise over 2012.

Samsung and Apple have become a duopoly, threatening smaller manufacturers like HTC. It's a good time to own stock in Samsung.